No Major Acquisitions or Mergers in Google's Immediate Future

Google CEO Eric Schmidt says the company isn't planning on using its $11B in liquid assets for any major acquisitions or mergers anytime soon, according to CNN.

Speaking at a tech conference in SF, Schmidt also repeated his belief that advertising and video were going to be two big areas of growth. And Schmidt defended his company's policy of spending large amounts of cash on infrastructure, but that's not new: That point had been iterated the day before.